# WEX Inc.: overview

WEX · NYSE · CIK 1309108 · [Industrials](/sectors/industrials.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/wex.md) · [Financials](/companies/wex/financials.md) · [Filings](/companies/wex/filings.md) · [Insiders](/companies/wex/insiders.md)

Latest reported revenue: [$513.3m](/filings/0001309108-26-000029.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Jul 23, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001309108-26-000029).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [479](/filings/0001309108-25-000190.md) | [440 d](/filings/0001309108-26-000010.md) | [444](/filings/0001309108-26-000017.md) | [454](/filings/0001309108-26-000029.md) | [482](/filings/0001309108-25-000190.md) | [465 d](/filings/0001309108-26-000010.md) | [462](/filings/0001309108-26-000017.md) | [513](/filings/0001309108-26-000029.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [41.0%](/filings/0001309108-25-000190.md) | [35.7% d](/filings/0001309108-26-000010.md) | [35.4%](/filings/0001309108-26-000017.md) | [34.5%](/filings/0001309108-26-000029.md) | [38.1%](/filings/0001309108-25-000190.md) | [35.8% d](/filings/0001309108-26-000010.md) | [34.2%](/filings/0001309108-26-000017.md) | [39.6%](/filings/0001309108-26-000029.md) |
| Net margin | % | [21.5%](/filings/0001309108-25-000190.md) | [14.5% d](/filings/0001309108-26-000010.md) | [16.1%](/filings/0001309108-26-000029.md) | [15.0%](/filings/0001309108-26-000029.md) | [16.7%](/filings/0001309108-25-000190.md) | [18.1% d](/filings/0001309108-26-000010.md) | [16.8%](/filings/0001309108-26-000029.md) | [21.1%](/filings/0001309108-26-000029.md) |
| Diluted EPS | $ per share | [2.52](/filings/0001309108-25-000190.md) | not reported | [1.81](/filings/0001309108-26-000017.md) | [1.98](/filings/0001309108-26-000029.md) | [2.30](/filings/0001309108-25-000190.md) | not reported | [2.22](/filings/0001309108-26-000017.md) | [3.11](/filings/0001309108-26-000029.md) |
| Free cash flow | $m | [(31.7) d](/filings/0001309108-25-000190.md) | [600 d](/filings/0001309108-26-000010.md) | [(514)](/filings/0001309108-26-000017.md) | [230 d](/filings/0001309108-26-000029.md) | [342 d](/filings/0001309108-25-000190.md) | [236 d](/filings/0001309108-26-000010.md) | [(368)](/filings/0001309108-26-000017.md) | [(121) d](/filings/0001309108-26-000029.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; Capital expenditure: us-gaap:PaymentsToAcquireProductiveAssets. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [1,346](/filings/0001309108-24-000033.md) | [1,690](/filings/0001309108-25-000017.md) | [1,838](/filings/0001309108-26-000010.md) | [1,867](/filings/0001309108-26-000010.md) | [1,845](/filings/0001309108-26-000010.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [25.4%](/filings/0001309108-24-000033.md) | [27.8%](/filings/0001309108-25-000017.md) | [35.2%](/filings/0001309108-26-000010.md) | [36.8%](/filings/0001309108-26-000010.md) | [36.0%](/filings/0001309108-26-000010.md) |
| Net margin | % | [10.1%](/filings/0001309108-24-000033.md) | [9.9%](/filings/0001309108-25-000017.md) | [14.5%](/filings/0001309108-26-000010.md) | [16.6%](/filings/0001309108-26-000010.md) | [16.5%](/filings/0001309108-26-000010.md) |
| Diluted EPS | $ per share | [0.00](/filings/0001309108-24-000033.md) | [4.50](/filings/0001309108-25-000017.md) | [6.16](/filings/0001309108-26-000010.md) | [7.50](/filings/0001309108-26-000010.md) | [8.47](/filings/0001309108-26-000010.md) |
| Free cash flow | $m | [(129)](/filings/0001309108-24-000033.md) | [567](/filings/0001309108-25-000017.md) | [764](/filings/0001309108-26-000010.md) | [334](/filings/0001309108-26-000010.md) | [314](/filings/0001309108-26-000010.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/wex/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [JANUS HENDERSON GROUP PLC](/funds/1274173.md) | 2026-03-31 | $599.3m | 3,916,073 |  | Not compared |
| [Jupiter Topco LLC](/funds/2146052.md) | 2026-06-30 | $559.7m | 3,967,061 |  | Not compared |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $446.8m | 3,167,005 |  | Added +61,564 |
| [PAR CAPITAL MANAGEMENT INC](/funds/1051359.md) | 2026-06-30 | $318.2m | 2,254,984 |  | Unchanged |
| [MORGAN STANLEY](/funds/895421.md) | 2026-06-30 | $275.0m | 1,949,295 |  | Reduced −150,973 |
| [FMR LLC](/funds/315066.md) | 2026-06-30 | $254.2m | 1,801,385 |  | Added +576,081 |
| [Impactive Capital LP](/funds/1786767.md) | 2026-06-30 | $240.9m | 1,707,253 |  | Unchanged |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $213.6m | 1,513,612 |  | Reduced −28,834 |
| [Boston Partners](/funds/1386060.md) | 2026-06-30 | $210.8m | 1,493,028 |  | Reduced −167,745 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $201.9m | 1,430,765 |  | Reduced −52,838 |

## Recent filings

[All 1,962 filings](/companies/wex/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-28 | 16:33 ET | [8-K](/filings/0001309108-26-000039.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001309108-26-000039 |
| 2026-07-23 | 13:48 ET | [10-Q](/filings/0001309108-26-000029.md) | Quarterly report, period 2026-06-30 | 0001309108-26-000029 |
| 2026-07-22 | 16:55 ET | [8-K](/filings/0001309108-26-000026.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001309108-26-000026 |
| 2026-05-14 | 16:56 ET | [8-K](/filings/0001309108-26-000019.md) | 5.07 Shareholder vote results; 8.01 Other events | 0001309108-26-000019 |
| 2026-05-04 | 16:59 ET | [8-K](/filings/0001213900-26-051676.md) | 1.01 Entry into a material agreement; 7.01 Regulation FD disclosure; 8.01 Other events; 9.01 Financial statements and exhibits | 0001213900-26-051676 |
| 2026-04-23 | 14:35 ET | [10-Q](/filings/0001309108-26-000017.md) | Quarterly report, period 2026-03-31 | 0001309108-26-000017 |
| 2026-04-22 | 16:36 ET | [8-K](/filings/0001309108-26-000014.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001309108-26-000014 |
| 2026-04-01 | 19:52 ET | [SCHEDULE 13D/A](/filings/0000921895-26-000872.md) | Ownership report, active investor, amended | 0000921895-26-000872 |
| 2026-02-13 | 14:14 ET | [10-K](/filings/0001309108-26-000010.md) | Annual report, period 2025-12-31 | 0001309108-26-000010 |
| 2026-02-09 | 08:31 ET | [SCHEDULE 13D/A](/filings/0001193805-26-000116.md) | Ownership report, active investor, amended | 0001193805-26-000116 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001309108-26-000010.md), filed Feb 13, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, locked when the 8-K was accepted. It is scored when the 10-Q or 10-K is ingested. [See the target](/leagues/2026q3/targets/8a5744bf-0dd3-4412-a21e-e1da2c4d1e80)

## About the filer

- CIK: 1309108
- Tickers: WEX
- Exchange: NYSE
- SIC code: 7389 Services-Business Services, NEC
- State of incorporation: DE
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 29, 2026, 13:57 ET. No prices; not investment advice.